. barack obama loses. people know what barack obama has to sell. and they know that he didn't deliver what he said he would deliver and i think that's a big problem for him. but independents don' generally break toward the incumbent. they know what barack obama promised, they know what he delivered. they know that the economy is in the ditch. so i like where we're at. >> what is mitt romney have to do? we've talked about biographies, he's got to reveal more about himself. and that's been said a lot and i think it's crucially important. there's also as you said, independent voters, undecided voters, softly committed voters who feel that washington doesn't work and they're right about that and nothing will change. what does mitt romney have to say to folks who are going to be watching him about how he actually gets things done. how he, not only does he have a vision for the country. how he has a road map in washington to get it done under these circumstances. >> i think the mitt romney story is a story of a guy who lives his life on metrics, setting goals and meeting goaltends. the president

, and the american legion, you will be cremated. >> david, i've got plenty of problems with president obama's plan but to stick with romney's for a second. the very reason having a balanced plan was at the core of our commission's recommendations that if you have a revenue neutral plan like governor romney proposed to have and generate no revenues for deficit reduction from revenues. >> that's what revenue neutral means. >> and you're going to increase defense spending by $1.8 trillion and you're going to reduce the deficit by $4 trillion over ten years. that means you have to cut everything else by $5.8 trillion. that's the arithmetic. and therefore, the cuts you have to make in the income support programs that really take care of truly disadvantaged and the cuts you have to make in education and infrastructure and high val u ated research that are so important for america to be competitive in this global economy, are just too deep. and unnecessary. that's why we want d to have a balanced plan that took $1 trillion from revenue and we will were very clear, we wanted to make the cuts across the bo

for president obama. >> they still are. they're still out there for him. it's hard to know exactly why in some cases. i think that there's no question, to some degree that race plays a part in all of that. we're still a country that's still sorting our way through a lot of racial issues. but i also think that what a lot of them believe is that you know, we can get these things done on our own. we don't need the government help and we'll see where it goes from there. >> what about star power? i think about bill clinton horrible speech in 1988 at the convention. >> i remember that right. >> i avoided him the next day. he said hey tom and i went the other way, i didn't know what to say to him. but it was -- we learned a lot about clinton, he gave that terrible speech and when he said in conclusion, the place went up, thank god, we're in conclusion. he went on johnny carson. he was trying to track me down to explain himself. i didn't know what to say to him. because it had been so embarrassing. >> in four years later, he ushers in this new era of leveraging hollywood personal biography and opening

's political future. markets are having an impact on president obama's political standing. if you want to know how the president is doing. forget the poles. take a look at stocks. >> the s&p 500 has risen and fallen so has the president's chances of reelection. when osama binladen was killed in may. the chances of winning spiked and the s&p 500 got a bump as well. in august things took a turn for the worst for the president and stocks. in april 2012 at mitt romney emerged from the republican primaries the president's main challenger stocks were up and so were the president's odds of wins. the president got a bounce from the democratic national convention. so did his in trade odds the s&p 500 rose to its highest level since 2007. >> the same correlation held true for president george w. bush. coming next only one other man has faced barack obama in a presidential campaign. we'll talk to sensor john mccain on the election and his effort to prevent steep defense cuts. capitol gains is back after the break. . >> you're watching capitol gains i'm peter cook. what matters most in washington right no

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